Are you looking to sell your home but have foundation problems? Fixing your foundation may be the best way to increase its value. The cost of repairing a foundation can range from $1500 all the way up to over $20,000, but can oftentimes close the gap on the selling price for homes that are priced below market value. If you’re thinking about selling your home, it’s worth weighing the pros and cons before listing it on the market. Selling a house that has foundation problems to a typical homeowner can be challenging. Find out if repairing the foundation of your home prior to selling is right for you.
Is It Worth Fixing The Foundation Of A House?
Selling a house that has foundation problems is not an easy task. The majority of homeowners will look at your home and disregard it quickly due to its issues. If you’re thinking about selling a house with broken walls, cracked flooring, or a sloped foundation, you might have some trouble. The difficulty is getting buyers to accept a home with a major flaw. People who are looking to move into a home want the home to be ready to actually move in.
Houses with foundation issues can scare first-time homebuyers. They can also scare lenders. Many times, homes with obvious foundation issues do not get approved for home loans.
Fixing the foundation prior to selling is a really good idea when you think about how the buyer will view the home if you don’t fix the issues. However, there are other factors that you have to consider as the owner of a home with foundation issues.
Are There Risks To Fixing My Foundation Before Selling?
There can be risks to fixing your foundation before you sell. Often, repairing a foundation has hidden costs and pitfalls that most homeowners aren’t aware of. Take these into consideration when deciding whether or not to repair your foundation:
- You have to make sure you work with a reputable, licensed, and bonded foundation repair company. There are some great contractors out there but there are some bad ones as well. It’s not always wise to use the cheapest repairman.
- Foundation repairs can be expensive. You have to budget for the foundation repairs. Make sure you don’t start something you will have difficulty finishing.
- Repairing the foundation can sometimes cause additional problems in the home. Issues like additional sheetrock cracks, broken plumbing pipes, and stuck doors and windows are actually quite common. Factor these items in when budgeting for your repairs.
- Make sure you plan on fixing all signs of previous foundation problems. If the house still appears to have foundation issues, it will still scare prospective buyers.
Can I Sell My House If The Foundation Has Been Repaired?
Yes, you can sell a house with repaired foundation problems. However, it’s important to make sure everything is done right and that the buyer knows about all of the repairs and issues involved in purchasing your home. Most buyers want a foundation warranty to be transferred to them upon the purchase of the property. Other buyers may want documentation from a structural engineer. Make sure you have all of the proper paperwork and documentation available upon request for the buyer.
Do You Have To Disclose Foundation Repairs?
Disclosing foundation repairs is important as is the need to disclose all of the issues in your home when selling. You never know what people will find out about the property if they pay for an inspection. Being upfront with buyers will save you from future liability headaches down the road.
Previous foundation repairs can be spotted by trained home inspectors. Trying to hide the fact that repairs have been done usually doesn’t work and can make it look like there is something more to hide. This will hurt more than help. It’s always best to disclosure what you know about the property you are selling.
You Can Sell Your House With Foundation Problems As-Is
You want to sell your house but you have foundation problems that need to be dealt with. You have thought about making repairs but aren’t sure about what the final cost will really be when everything is said and done.
Will it be worth it? Can you get your money back from all the repairs? How long will the process take?
Capstone Homebuyers is here to help. We buy houses with foundation problems across San Antonio for cash so you can move on with your life quickly and easily! We give you a fair, all-cash offer for your house in its as-is condition. No repairs, no fees, no commissions. Our offers don’t change. Can we help you? Give us a call today to see what we can do for you.